California State Teachers Retirement System Grows Position in Affiliated Managers Group, Inc. $AMG

California State Teachers Retirement System grew its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 30,051.3% in the second quarter, Holdings Channel.com reports. The firm owned 9,905,306 shares of the asset manager’s stock after buying an additional 9,872,454 shares during the period. California State Teachers Retirement System owned about 0.38% of Affiliated Managers Group worth $3,351,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in shares of Affiliated Managers Group by 1.3% in the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock valued at $19,047,000 after purchasing an additional 1,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Affiliated Managers Group by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock worth $23,815,000 after buying an additional 6,262 shares during the period. Jane Street Group LLC bought a new position in Affiliated Managers Group in the 1st quarter worth approximately $1,947,000. American Century Companies Inc. grew its stake in Affiliated Managers Group by 1.2% in the 2nd quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager’s stock valued at $1,683,000 after buying an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Affiliated Managers Group by 89.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock valued at $55,000 after acquiring an additional 133 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Down 0.4%

Shares of NYSE:AMG opened at $354.35 on Friday. The stock has a market capitalization of $9.16 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 0.48 and a beta of 1.10. The stock’s 50-day moving average price is $364.00 and its 200-day moving average price is $325.19. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group, Inc. has a 12-month low of $230.10 and a 12-month high of $392.92.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. During the same period in the prior year, the business posted $5.39 EPS. Affiliated Managers Group’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts anticipate that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were given a $0.01 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s payout ratio is presently 0.14%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barrington Research set a $425.00 price target on Affiliated Managers Group in a report on Friday, July 31st. Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Zacks Research upgraded Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $370.86.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE:AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG’s affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.